The economic case for investment in education

There is ample evidence for the benefits of state investment in tertiary education

Economic growth

Higher qualifications contribute more to the economy as a whole

Prison education

Offenders who take prison education are three times less likely to reoffend than those who do not. It is estimated that investment in prison education could reduce the total cost of reoffending by 25%.

Youth unemployment

Figures on the UK’s youth unemployment paint a worrying picture and policy makers across Europe increasingly stress the importance of high quality vocational education.

Government research demonstrates the positive impact of further education to the individual and the wider benefits to the economy and society. Research report from the Greater Manchester Colleges Group.

Secures our economic future; make ours a civilised society; promotes active citizenship; enables people to play a full part in their community; strengthens the family, the neighbourhood and the nation. Colleges and universities in the UK collectively work towards these aims for both young people and adults.

This study explored the impact of WEA targeted mental health community learning on the students who took part, based on five student discussion groups and informal interviews with WEA tutors and staff.

The blog

Our conference, 'The Big Idea: how can the next government boost growth and opportunity?', saw a range of high profile speakers put forward their top three ‘big ideas’ for how the next government can boost growth and opportunity in the UK.

Looking at today’s study which shows a third of young people not in education, employment or training (NEETs) fear they will never get a job, Professor Robin Simmons, an expert in the NEET phenomenon from the University of Huddersfield, argues that decent advice and guidance for young people is needed, as well as employment and education opportunities.

A report this week that compared international education systems and one from UK bosses painted a gloomy picture about UK education. UCU president Simon Renton says we need to invest if we are to solve our problems.

Phil Baty, editor of Times Higher Education World University Rankings, warns that UK universities risk falling behind their international counterparts and that cold hard cash is needed if we are to remain a key player on the global stage.

Anita Meldrum argues that education and learning are not options; they are essential requirements to being able to maintain work in the future.

There is substantial evidence that funding for colleges and universities is an investment in the country’s future, both in terms of the ability to create jobs and help deliver social and economic equity. Currently spending on tertiary education by the UK is around 1.3% of gross domestic product. This compares to the average in OECD countries of 1.6%, with the UK well below leading economies such as the USA and Korea (2.6%), Canada (2.5%), Sweden (1.8%) and Japan (1.6%). We want the UK governments to take a lead in raising funding for tertiary education to the OECD average of 1.6% of GDP.